Laline posted NIS 31 million turnover in 2007.
Bath products chain Laline is to expand to the US and Singapore, said Fox-Wizel CEO and shareholder Harel Wizel today. Fox-Wizel (TASE: FOX) owns 50% of the chain. Wizel said the company was in talks with a potential franchisees in the US and Singapore franchise to open Laline stores in these countries.
Fox-Wizel has been seeking to expand Laline locally and abroad ever since it acquired half of the chain for NIS 12.9 million in January 2007. The chain now numbers 30 stores, eight of which are located in the UK, Norway and Romania.
"I am confident that after Fox, Laline will be the next chain of ours to begin a swift roll-out worldwide," said Wizel.
Laline posted NIS 31 million turnover in 2007, a 47% increase over 2006.
Published by Globes [online], Israel business news - www.globes-online.com - on March 17, 2008
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